Cyprus to reopen bail-in payout platform, plans new 2027 scheme
Depositors and bondholders who lost savings in the 2013 haircut but were never paid will get another chance to apply, as the finance ministry prepares a fresh reimbursement round for 2027.
Authorities will bring the online application system for victims of the 2013 bank bail-in back online within days, according to finance ministry permanent secretary Andreas Zachariades, who briefed MPs on Monday. The move targets roughly 1,200 people whose losses were already verified but who never supplied their Iban details, leaving €28.7 million unclaimed from last year's €100 million payout pot, as reported by Cyprus Mail.
That leftover sum will also cover claimants whose objections to their calculated amounts were upheld but whose payments stalled for technical reasons. So far €71.3 million has reached depositors and bondholders — against an estimated €2 billion in total losses from the 2013 haircut — with 7,160 individuals paid to date, Zachariades said. The Solidarity Fund currently holds €240 million, and the state intends to add €50 million in 2027.
No scheme was offered for 2026, a gap that drew sharp criticism in parliament. A Sykala representative for legacy Laiki depositors noted four disbursements should have occurred between 2023 and 2026 but only one materialised, while a bondholders' association delegate described court rulings in their favour as hollow since Laiki no longer exists.
What it means for residents
If you or a family member lost money in the 2013 bail-in and never completed an application, the reopened platform is your window to get into the system before the 2027 scheme launches. Those who already applied but received nothing should check whether their Iban details are on file — that omission alone blocked roughly 1,200 payouts.
- Check your records now. Confirm the platform has your correct bank details, or the money earmarked for you stays frozen.
- Expect no payout in 2026. Budget rules cap annual disbursements, so the next realistic window is 2027.
- State property won't help. Land worth €100 million set aside for the fund cannot legally be used, so the cash cushion depends on direct treasury injections.
This text is written from the source article and is not a translation of it.
